Netflix Expands Footprint in India with Prime Office Space in Mumbai's BKC
Streaming giant Netflix has secured a lease for premium office space in Mumbai's Bandra Kurla Complex (BKC), reaffirming its commitment to the Indian market. This strategic move aims to enhance service offerings in a region where Netflix has already gained 5.5 million subscribers.
Streaming giant Netflix has signed a lease agreement for approximately 1.4 lakh square feet of premium space in Mumbai's Bandra Kurla Complex (BKC). The company is set to establish its support services on the 11th and 12th floors of the Godrej BKC building, with the monthly rent pegged at Rs 312.69 per square foot. This move reflects Netflix's ongoing commitment to the Indian market, where it has garnered 5.5 million subscribers.
The five-year lease agreement, facilitated by Colliers, also includes a clause allowing for a 15% rental increase every three years. Netflix previously operated from Maker Maxity in BKC.
While Netflix remains a popular streaming platform globally, the Asia-Pacific region has played a crucial role in its subscriber growth, contributing to a third of its overall growth. India, in particular, has presented significant opportunities for expansion, including the establishment of a post-production unit. India was also the first market where Netflix introduced its mobile-only plan.
The move to secure prime office space in Mumbai reflects Netflix's intent to further strengthen its presence in the Indian market and improve its service offerings.
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